Common use of Limitation on Issuer’s Liability Clause in Contracts

Limitation on Issuer’s Liability. It is understood and agreed by the Borrower and the Holders that no covenant, provision or agreement of the Issuer herein or in the Bonds or in any other document executed by the Issuer in connection with the issuance, sale and delivery of the Bonds, or any obligation herein or therein imposed upon the Issuer or breach thereof, shall give rise to a pecuniary liability of the Issuer or a charge against the Issuer’s general credit or general fund or shall obligate the Issuer financially in any way except with respect to this Agreement and the application of Revenues therefrom and the proceeds of the Bonds. No failure of the Issuer to comply with any term, condition, covenant or agreement contained in this Agreement shall subject the Issuer to liability for any claim for damages, costs or other financial or pecuniary charges except to the extent that the same can be paid or recovered from this Agreement or the Revenues or proceeds of the Bonds. No execution on any claim, demand, cause of action or judgment shall be levied upon or collected from the general credit or general funds of the Issuer. In making the agreements, provisions and covenants set forth herein, the Issuer has not obligated itself except with respect to this Agreement and the application of the Revenues as hereinabove provided. The Bonds constitute special limited obligations of the Issuer, payable solely from the Revenues pledged to the payment thereof pursuant to this Agreement and the Indenture, and do not now and shall never constitute an indebtedness or a loan of the credit of the Issuer, the State of Georgia or any political subdivision thereof within the meaning of any constitutional or statutory provision whatsoever. The Issuer has no taxing power. It is further understood and agreed by the Borrower and the Holders that the Issuer shall incur no pecuniary liability hereunder and shall not be liable for any expenses related hereto. If, notwithstanding the provisions of this Section, the Issuer incurs any expense, or suffers any losses, claims or damages or incurs any liabilities, the Borrower will indemnify and hold harmless the Issuer from the same and will reimburse the Issuer for any legal or other expenses incurred by the Issuer or the State of Georgia in relation thereto, and this covenant to indemnify, hold harmless and reimburse the Issuer shall survive delivery of and payment for the Bonds.

Limitation on Issuer’s Liability. It is understood The Issuer shall not be obligated to pay the principal (or redemption price) of or interest on the Bonds, except from Revenues and agreed other moneys and assets received by the Borrower and the Holders that no covenant, provision or agreement Bondowner Representative on behalf of the Issuer herein or in pursuant to this Loan Agreement. Neither the Bonds or in any other document executed by faith and credit nor the Issuer in connection with the issuance, sale and delivery taxing power of the Bonds, State or any obligation herein or therein imposed upon the Issuer or breach political subdivision thereof, shall give rise to a pecuniary liability nor the faith and credit of the Issuer or a charge against the Issuer’s general credit or general fund or shall obligate the Issuer financially in any way except with respect to this Agreement and the application of Revenues therefrom and the proceeds of the Bonds. No failure of the Issuer to comply with any term, condition, covenant or agreement contained in this Agreement shall subject the Issuer to liability for any claim for damages, costs or other financial or pecuniary charges except to the extent that the same can be paid or recovered from this Agreement or the Revenues or proceeds of the Bonds. No execution on any claim, demand, cause of action or judgment shall be levied upon or collected from the general credit or general funds of the Issuer. In making the agreements, provisions and covenants set forth herein, the Issuer has not obligated itself except with respect to this Agreement and the application of the Revenues as hereinabove provided. The Bonds constitute special limited obligations of the Issuer, payable solely from the Revenues is pledged to the payment thereof pursuant to this Agreement and the Indenture, and do not now and shall never constitute an indebtedness or a loan of the credit of principal (or redemption price) or interest on the Issuer, the State of Georgia or any political subdivision thereof within the meaning of any constitutional or statutory provision whatsoeverBonds. The Issuer has no taxing power. It is further understood and agreed by the Borrower and the Holders that the Issuer shall incur no pecuniary liability hereunder and shall not be liable for any expenses related heretocosts, expenses, losses, damages, claims or actions, of any conceivable kind on any conceivable theory, under or by reason of or in connection with this Loan Agreement, the Bonds or the Indenture, except only to the extent amounts are received for the payment thereof from the Borrower under this Loan Agreement. IfThe Borrower hereby acknowledges that the Issuer’s sole source of moneys to repay the Bonds will be provided by payments made by the Borrower pursuant to this Loan Agreement and the receipt of other Revenues, notwithstanding together with investment income on certain funds and accounts held by the provisions Bondowner Representative under the Indenture, and hereby agrees that if the payments to be made hereunder shall ever prove insufficient to pay all principal (or redemption price) and interest on the Bonds as the same shall become due (whether by maturity, redemption, acceleration or otherwise), then upon notice from the Bondowner Representative, the Borrower shall pay such amounts as are required from time to time to prevent any deficiency or default in the payment of this Sectionsuch principal (or redemption price) or interest, including, but not limited to, any deficiency caused by acts, omissions, nonfeasance or malfeasance on the part of the Bondowner Representative, the Borrower, the Issuer incurs or any expensethird party, or suffers subject to any losses, claims or damages or incurs any liabilities, the Borrower will indemnify and hold harmless the Issuer right of reimbursement from the same and will reimburse the Issuer for any legal or other expenses incurred by Bondowner Representative, the Issuer or any such third party, as the State of Georgia in relation theretocase may be, and this covenant to indemnify, hold harmless and reimburse the Issuer shall survive delivery of and payment for the Bondstherefor.

Limitation on Issuer’s Liability. It is understood The Issuer shall not be obligated to pay the principal (or redemption price) of or interest on the Bonds, except from Revenues and agreed other moneys and assets received by the Borrower and the Holders that no covenant, provision or agreement Bondowner Representative on behalf of the Issuer herein or in pursuant to this Loan Agreement. Neither the Bonds or in any other document executed by faith and credit nor the Issuer in connection with the issuance, sale and delivery taxing power of the Bonds, State or any obligation herein or therein imposed upon the Issuer or breach political subdivision thereof, shall give rise to a pecuniary liability nor the faith and credit of the Issuer or a charge against the Issuer’s general credit or general fund or shall obligate the Issuer financially in any way except with respect to this Agreement and the application of Revenues therefrom and the proceeds of the Bonds. No failure of the Issuer to comply with any term, condition, covenant or agreement contained in this Agreement shall subject the Issuer to liability for any claim for damages, costs or other financial or pecuniary charges except to the extent that the same can be paid or recovered from this Agreement or the Revenues or proceeds of the Bonds. No execution on any claim, demand, cause of action or judgment shall be levied upon or collected from the general credit or general funds of the Issuer. In making the agreements, provisions and covenants set forth herein, the Issuer has not obligated itself except with respect to this Agreement and the application of the Revenues as hereinabove provided. The Bonds constitute special limited obligations of the Issuer, payable solely from the Revenues member is pledged to the payment thereof pursuant to this Agreement and the Indenture, and do not now and shall never constitute an indebtedness or a loan of the credit of principal (or redemption price) or interest on the Issuer, the State of Georgia or any political subdivision thereof within the meaning of any constitutional or statutory provision whatsoeverBonds. The Issuer has no taxing power. It is further understood and agreed by the Borrower and the Holders that the Issuer shall incur no pecuniary liability hereunder and shall not be liable for any expenses related heretocosts, expenses, losses, damages, claims or actions, of any conceivable kind on any conceivable theory, under or by reason of or in connection with this Loan Agreement, the Bonds or the Indenture, except only to the extent amounts are received for the payment thereof from the Borrower under this Loan Agreement. IfThe Borrower hereby acknowledges that the Issuer’s sole source of moneys to repay the Bonds will be provided by payments made by the Borrower pursuant to this Loan Agreement and the receipt of other Revenues, notwithstanding together with investment income on certain funds and accounts held by the provisions Bondowner Representative under the Indenture, and hereby agrees that if the payments to be made hereunder shall ever prove insufficient to pay all principal (or redemption price) and interest on the Bonds as the same shall become due (whether by maturity, redemption, acceleration or otherwise), then upon notice from the Bondowner Representative, the Borrower shall pay such amounts as are required from time to time to prevent any deficiency or default in the payment of this Sectionsuch principal (or redemption price) or interest, including, but not limited to, any deficiency caused by acts, omissions, nonfeasance or malfeasance on the part of the Bondowner Representative, the Borrower, the Issuer incurs or any expensethird party, or suffers subject to any losses, claims or damages or incurs any liabilities, the Borrower will indemnify and hold harmless the Issuer right of reimbursement from the same and will reimburse the Issuer for any legal or other expenses incurred by Bondowner Representative, the Issuer or any such third party, as the State of Georgia in relation theretocase may be, and this covenant to indemnify, hold harmless and reimburse the Issuer shall survive delivery of and payment for the Bondstherefor.

Limitation on Issuer’s Liability. It is understood and agreed by the Borrower and the Holders that no covenant, provision or agreement of the Issuer herein or in the Bonds or in any other document executed by the Issuer in connection with the issuance, sale and delivery of the Bonds, or any obligation herein or therein imposed upon the Issuer or breach thereof, shall give rise to a pecuniary liability of the Issuer or a charge against the Issuer’s its general credit or general fund or shall obligate the Issuer financially in any way except with respect to this Agreement and the application of Revenues therefrom and the proceeds of the Bonds. No failure of the Issuer to comply with any term, condition, covenant or agreement contained in this Agreement therein shall subject the Issuer to liability for any claim for damages, costs or other financial or pecuniary charges except to the extent that the same can be paid or recovered from this Agreement or the Revenues or proceeds of the Bonds. No execution on any claim, demand, cause of action or judgment shall be levied upon or collected from the general credit or general funds of the Issuer. In making the agreements, provisions and covenants set forth herein, the Issuer has not obligated itself except with respect to this Agreement and the application of the Revenues as hereinabove provided. The Bonds constitute special limited obligations of the Issuer, payable solely from the Revenues pledged to the payment thereof pursuant to this Agreement and the Indenture, and do not now and shall never constitute an indebtedness or a loan of the credit of the Issuer, the State of Georgia Iowa or any political subdivision thereof within the meaning of any constitutional or statutory provision whatsoever. The Issuer has no taxing power. It is further understood and agreed by the Borrower and the Holders that the Issuer shall incur no pecuniary liability hereunder and shall not be liable for any expenses related hereto. If, notwithstanding the provisions of this Section, the Issuer incurs any expense, or suffers any losses, claims or damages or incurs any liabilities, the Borrower will indemnify and hold harmless the Issuer from the same and will reimburse the Issuer for any legal or other expenses incurred by the Issuer or the State of Georgia in relation thereto, and this covenant to indemnify, hold harmless and reimburse the Issuer shall survive delivery of and payment for the Bonds.